BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) (NYSE: SPR) securities between October 31, 2019 and January 29, 2020, inclusive (the “Class Period”). Spirit investors have until April 10, 2020 to file a lead plaintiff motion.
Investors suffering losses on their Spirit investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On January 30, 2020, Spirit issued a press release announcing executive officer changes. Therein, Spirit stated that it “did not comply with its established accounting processes related to certain potential contingent liabilities that were received by Spirit after the end of third quarter 2019.” Moreover, the Company stated that, “[i]n light of these findings,” Spirit’s Chief Financial Officer, Jose Garcia, and Principal Accounting Officer, John Gilson, resigned from their positions.
On this news, the Company’s share price fell $2.56, or nearly 4%, to close at $65.08 per share on January 30, 2020, on usually heavy trading volume.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company did not comply with its established accounting principles related to potential contingent liabilities; and (3) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Spirit securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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